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steve cohen is lot of things. he was smart enough to surround himself with people that are very, very bright. they didn't make that much money for being stupid. melissa: james what do you think. >> i will not cry for them either but this may be interpreted as sad commentary on wall street -- melissa: why is this not a sad commentary on wall street? at love folks out there say this firm has been very suspicious for a long time. they were trading ahead of the street. they were too good. made too much money. all the talk on the street for years and years it was dirty money. >> you have to give people their presumption of innocence and you need to keep it in per speck. they had six people convicted of six people of insider trading. there is a firm of about a thousand people. this is not entirely clear a firm-wide problem although obviously when they agreed to right a very big check, in fact the biggest check ever it raises questions. melissa: it's a firm-wide problem. >> i'm sorry, i read -- melissa: ha is exactly wha
steve cohen is lot of things. he was smart enough to surround himself with people that are very, very bright. they didn't make that much money for being stupid. melissa: james what do you think. >> i will not cry for them either but this may be interpreted as sad commentary on wall street -- melissa: why is this not a sad commentary on wall street? at love folks out there say this firm has been very suspicious for a long time. they were trading ahead of the street. they were too good....
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also stressing that today's settlement against the hedge fund firm started by billionaire steve cohen does not close the door on future criminal prosecution of individuals at that hedge fund. now, sac capital has released this statement saying in part: we take responsibility for the handful of men who pleaded guilty and whose conduct gave rise to sac's liability. quote, the tiny fraction of wrongdoers does not represent the 3,000 honest men and women wolf worked here -- who have worked here during the past 21 years. sac has never encouraged, promoted oral tolerated insider trading. no outside investors. our charlie gasparino has been following the case from the very beginning, he will be here in just a few moments, he's running back from the courthouse to tell us what it all means for founder steve cohen and his future managing money. and maybe even some of the other firms that might be now in the crosshairs. the stunning market rally continues right now. the scorecard, s&p 500 up some 24% year-over-year. right to the floor show. the cme group, the nymex and the new york stock exchang
also stressing that today's settlement against the hedge fund firm started by billionaire steve cohen does not close the door on future criminal prosecution of individuals at that hedge fund. now, sac capital has released this statement saying in part: we take responsibility for the handful of men who pleaded guilty and whose conduct gave rise to sac's liability. quote, the tiny fraction of wrongdoers does not represent the 3,000 honest men and women wolf worked here -- who have worked here...
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Nov 4, 2013
11/13
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not steve cohen or anybody else. there should be minimal impact, important for our viewers to the markets and to other parties who do business with sac. still, the questions from the audience were skeptical. a lot of questions about why steve cohen was ultimately not a part of this, what happens next. there's a sense that sac wants to reopen after just a short period of time. bharara was having to say no, that's not going to happen. they have about five years to unwind and we think it will take less than that. what they do after that whether they open up a new fund or turn night a family office is up to other parties. here's what he had to say about the significance overall. >> greed sometimes is not good. and there are at least 75 convicted insider trading defendants who today would likely agree. but individual guilt is not the whole of our mission. sometimes blame worthy institutions need to be held accountable too. no institution should rest easy in the belief that it is too big to jail. >> reporter: so obviously
not steve cohen or anybody else. there should be minimal impact, important for our viewers to the markets and to other parties who do business with sac. still, the questions from the audience were skeptical. a lot of questions about why steve cohen was ultimately not a part of this, what happens next. there's a sense that sac wants to reopen after just a short period of time. bharara was having to say no, that's not going to happen. they have about five years to unwind and we think it will take...
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Nov 4, 2013
11/13
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sacked, steve cohen's s.a.c. capital in a record settlement with the feds, now kate kelly has the latest on what happens to the firm. and of course its founder. tweet this, twitter ups its ipo range. traders weigh in on whether they'd buy the stock when it opens for business. >>> the markets heading into the final stretch of the year looking for more gains. surprisingly, still looking for love. so, why is one of the strongest rallies in recent memory still searching for respect? and what does all it mean to where we go from here? "halftime". pete, where's the love in the rally? >> i think it doesn't really take a lot to find some of the love. i think part of the problem is the fact that the financials really have not participated this in quarter. look over at some of the industrial names, i pick out ge, one of the names that i like. we've seen a lot of option paper in there look at energy names, i'm not talking about the big cap energy that everybody always likes to focus on. i'm looking at some of the mid tier n
sacked, steve cohen's s.a.c. capital in a record settlement with the feds, now kate kelly has the latest on what happens to the firm. and of course its founder. tweet this, twitter ups its ipo range. traders weigh in on whether they'd buy the stock when it opens for business. >>> the markets heading into the final stretch of the year looking for more gains. surprisingly, still looking for love. so, why is one of the strongest rallies in recent memory still searching for respect? and...
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liz: back when steve jobs was there. >> it was the first time steve jobs was there. liz: what did you learn from him and the way he operated? >> incredibly intense passion and focus and, always demanding best from people around him. and sometimes, that is hard to, hard to be around, particularly in the first generation of steve. but, he obviously, even in the first generation create ad couple new industries and changed the world very positive way. liz: i just want to clarify something. i always look through a company's stats you have no debt? >> that is no longer true. liz: i was going to say, that needed to be updated. i wanted to clarify. >> the acquisition of enterasys was 180 million-dollars acquisition. we funded 100 million with cash off the balance sheet and $100 million in debt. so we're no longer debt-free. >> that is all right. you still have enough cash looks like a little bit of balloon. >> we end up with still 100 million on the balance sheet. liz: are you hiring right now? >> we are. in select areas we're hiring. also the next 12 to 24 months we'll get
liz: back when steve jobs was there. >> it was the first time steve jobs was there. liz: what did you learn from him and the way he operated? >> incredibly intense passion and focus and, always demanding best from people around him. and sometimes, that is hard to, hard to be around, particularly in the first generation of steve. but, he obviously, even in the first generation create ad couple new industries and changed the world very positive way. liz: i just want to clarify...
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Nov 9, 2013
11/13
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ALJAZAM
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been investigating insider trading for quite some time with many believe the end goal being to get steve cohen. many believe this is a way to distract people from the lack of prosecutions but maybe i'm a bit of a conspiracy theorists. >> like any prosecutorial body, they try to get a lot of convictions. as you remember from the enron trial this was difficult to do. >> yes, it is extremely difficult to do. and make no bones about that, it's not like these cases were easy to make. you may have some criminal actions but you've got a lot of delusion, you got a fair amount of outright encompetence mixed in these stories and to prove that individuals intended to do these things is pretty tough. that means where will ther therl there is a way. >> scc capital feels from what was put forward, that it was a den who were attracted to people into this insider trading. many could smell a rat. jp morgan was a different thing. this is a big company, and maybe that's the argument, it's too big to challenge. >> back to scc keep in mind although the firm has paid $1.8 billion and pled guilty the individua
been investigating insider trading for quite some time with many believe the end goal being to get steve cohen. many believe this is a way to distract people from the lack of prosecutions but maybe i'm a bit of a conspiracy theorists. >> like any prosecutorial body, they try to get a lot of convictions. as you remember from the enron trial this was difficult to do. >> yes, it is extremely difficult to do. and make no bones about that, it's not like these cases were easy to make. you...
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Nov 6, 2013
11/13
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CNBC
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we have got some rare footage of steve cohen and he is in a fighting mood. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading. >> you >> you don't have to change your statement. >> i want to know which one is the policy. >> i will answer the question the way i want to answer it. >> but it's non-responsive. >> okay. i'm answering it because i believe that the intent of this is to have the employee act in a certain way. there may be a time and i can think of times when he uses his own judgment because he knows how to act in the situation. >> you're looking a
we have got some rare footage of steve cohen and he is in a fighting mood. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550...
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steve cohen out of the brokerage business. but i don't think in general has used very high penalties. the statement you quoted me was about the general sec behavior toward most financial institutions and even in the london will case you don't see the sec suing any individual offices. lori: this is a victory for those look at this saying sac se cohen not able to buy himself out of this one. >> cohen will still have seven to $9 billion can trade for his own accounts. he is not coming out of this homeless, carlos and bankrupt. he is going to have a relatively happy economic existence. he had no choice in settling this case because if he waited for the convictions of the two officers, which is always a probability in a government case, they would be even higher penalties for this is a plea bargain on the courthouse steps before the trials begin.çó in order to get a somewhat cheaper price. adam: what does it say they cannot get those two defendants to flip and they don't have the evidence they would need to get a criminal one ind
steve cohen out of the brokerage business. but i don't think in general has used very high penalties. the statement you quoted me was about the general sec behavior toward most financial institutions and even in the london will case you don't see the sec suing any individual offices. lori: this is a victory for those look at this saying sac se cohen not able to buy himself out of this one. >> cohen will still have seven to $9 billion can trade for his own accounts. he is not coming out of...
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Nov 14, 2013
11/13
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FOXNEWSW
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steve cohen is not the charged criminal. he has been charged civilly. the feds think he has done something wrong. they would like someone to flip on him and charge him. >> what if he is flipped on? then all bets are off. but republicans get this -- mitt romney was getting this last year, all of the fat cat wall street friends. >> we should point out that cohen supported romney last year. and held fundraisers at his house. this is -- >> if you're christie and looking at this, shows a certain devil may care bull in a china shop. >> hours earlier, cohen just cut the deal. he basically had his firm plead guilty to fraud, insider trading, closed it down, signed a $1.2 billion check. hours later getting a call from the governor-elect of new jersey saying, hey, pal, come by, let's sill great and is reluctant and he said, get off your rear end -- >> did he use the word rear end or -- >> the it was said to me -- >> that could add insult to injury. you don't speak that way. >> i speak the queen's english. >> we both do. >> grope new jersey, too. >> fine. all righ
steve cohen is not the charged criminal. he has been charged civilly. the feds think he has done something wrong. they would like someone to flip on him and charge him. >> what if he is flipped on? then all bets are off. but republicans get this -- mitt romney was getting this last year, all of the fat cat wall street friends. >> we should point out that cohen supported romney last year. and held fundraisers at his house. this is -- >> if you're christie and looking at this,...
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Nov 12, 2013
11/13
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steve jobs is a very unique individual. i'm not sure there's anyone that's going to be like him for a very long time. >> before i forget, one more question. microsoft. you want to be the ceo? >> no. >> no? is it fixable? >> if the right person was there, i'm sure it could probably be turned around with the right person. there's a lot of talented people still at microsoft, so the right person could probably steer the ship in the right direction. >> elon musk, everybody. thank you for this conversation. thank you very, very much. >> all right, elon musk with andrew ross sorkin. once again coming to you live from schwab impact conference on a day the stock market was in the red for much of the day. the dow, of course, closing at record high yesterday. pulled back from that today. let's talk about today's market action. bob doll with mre from nuveen asset management, mike santelli. good to see you. >> hi. >> it certainly slowed down, maria. i think today was a boring sidewise day, slightly sloppy to the downside. we're digestin
steve jobs is a very unique individual. i'm not sure there's anyone that's going to be like him for a very long time. >> before i forget, one more question. microsoft. you want to be the ceo? >> no. >> no? is it fixable? >> if the right person was there, i'm sure it could probably be turned around with the right person. there's a lot of talented people still at microsoft, so the right person could probably steer the ship in the right direction. >> elon musk,...
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Nov 19, 2013
11/13
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KTVU
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steve. time now 6:53. targeting san fransisco tourists, the hot spots for car break-ins and how some drivers are making it just too easy for thieves. >> plus changing the way >>> on wall street a mixed reading on consumer spending. home depot's stock is up with the recovering real estate market helping sales. best buy shares are falling sharply and campbells soup has missed its badly on its quarterly profit. taking a live look at the big board, the dough is up right now. 17 getting close to that 16,000 mark, the nasdaq and s&p are flat. >>> california drivers planning to drive to their thanksgiving destination can give thanks for lower gas prices. we're paying about $0.04 a gallon less than last week. an average of $3.68 in santa rosa and oakland the cost is $3.57. the lowest local price at $3.54. drivers in other parts of the country have seen gas prices increase $0.04 in the last week. >>> an investigation finds a big jump in car break-ins in san fransisco. break-ins are up 31% this year. more than 13,00
steve. time now 6:53. targeting san fransisco tourists, the hot spots for car break-ins and how some drivers are making it just too easy for thieves. >> plus changing the way >>> on wall street a mixed reading on consumer spending. home depot's stock is up with the recovering real estate market helping sales. best buy shares are falling sharply and campbells soup has missed its badly on its quarterly profit. taking a live look at the big board, the dough is up right now. 17...
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Nov 19, 2013
11/13
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KTVU
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here's sal. >> steve, good morning. we are looking at traffic that is still looking pretty good around the bay as we look at the east shore freeway. it's getting more crowded by the minute. i think people have heard the forecast and it seems as if many are on the road early, at least trying to beat any rain that may come through. >> looking at the bay bridge toll plaza, you can see traffic looks good. if you are driving on to the bridge into the city, it also looks good into the city. if you're driving in the south bay northbound 101 is okay. northbound 680 at montague, there is a crash. this crash is going to be blocking the right lane for a bit. now i want you to know that it's going to be there for a while because chp has issued an alert. it is the non-commute direction. however, it looks like this is going to be there for a bit. 5:32. let's go back to the desk. >> thank you, sal. we are hoping our long dry spell is finally over. the bay area is expecting its first rainfall in about two months starting today. ktvu's
here's sal. >> steve, good morning. we are looking at traffic that is still looking pretty good around the bay as we look at the east shore freeway. it's getting more crowded by the minute. i think people have heard the forecast and it seems as if many are on the road early, at least trying to beat any rain that may come through. >> looking at the bay bridge toll plaza, you can see traffic looks good. if you are driving on to the bridge into the city, it also looks good into the...
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steve benen thank you i want to start off by asking you about some of the meat of the book you talk about the organizational driftin you say it occurred to goldman sachs' what are some concrete examples of this organizational drift and its consequences for the company. will give you an example in terms of a story in the late one nine hundred eighty s. goldman was taking a british company public and they had an opportunity to get out of taking the company public and saving themselves hundreds of millions of dollars they had a legal contractual right and when they were presented with the opportunity to do so john weinberg who was co-writing the firm at the time said i don't care what the contract says we are not we're going to fulfil our duty we're told we're going to do it we're going to stand behind it even if the contract legally allows us to get out of it today when you look at goldman executives when they're speaking about their duty they speak about it more and from a legal perspective so when goldman executives were testifying in front of congress they'll say that they fulfilled all
steve benen thank you i want to start off by asking you about some of the meat of the book you talk about the organizational driftin you say it occurred to goldman sachs' what are some concrete examples of this organizational drift and its consequences for the company. will give you an example in terms of a story in the late one nine hundred eighty s. goldman was taking a british company public and they had an opportunity to get out of taking the company public and saving themselves hundreds of...
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Nov 14, 2013
11/13
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FBC
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he doesn't care, sharp elbows, friends with steve cohen. they had a broad clinical discussion at the time raising money for the romney campaign. he was a contributor to that. he is in your face, will set stickup for my friends. i just wonder, since a judgment call, i should point out not only did he personally invite him, from what i understand, steve cohen didn't want to attend. told him to get off his rear end and stop feeling depressed. liz: it will bother much of main street, i think. but that means h you can't take money from anybody? charlie: his firm closed down because of insider trading. that is it. by the way, ms. germany, giving her a tour of fox, do you want to meet her? by the way, i lean, her name is. liz: get her name right. charliecharlie: i think she shoe one. liz: noted. sony playstation 4, they want 1 million preorders, will it smash all records for sony? we will let you decide. we will show you what game is around the globe. and we're sitting down with zach trenton to hear why he thinks this is the gaming console to beat
he doesn't care, sharp elbows, friends with steve cohen. they had a broad clinical discussion at the time raising money for the romney campaign. he was a contributor to that. he is in your face, will set stickup for my friends. i just wonder, since a judgment call, i should point out not only did he personally invite him, from what i understand, steve cohen didn't want to attend. told him to get off his rear end and stop feeling depressed. liz: it will bother much of main street, i think. but...
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Nov 6, 2013
11/13
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todd buchholz former white house economic adviser to the first president bush also with us our own steve liesman. gentlemen, good to see you. >> good to be here, maria. >> explain the theory. >> well, look, if obama care fails because of the website, well, then that's terrible for the president. let's say it succeeds and give it the benefit of the doubt and say the president is right and 30 million people sign up, and they start getting insurance, but they start paying premiums. those premiums maybe they'll be a bargain, $100, $200 a month. >> they haven't been a bargain. i see your point. >> let's give the president all the credit and say it's going to work. that's by my calculations about $77 billion of spending by consumers that they won't have to spend at mcdonald's and target and ford motor -- that's a lot of money. more than the president's stimulus plan spent on infrastructure or for tax cuts. it could be in an economy right now where consumers look a little bit shaky, it could be just enough to dislodge us from this tentative recovery. >> steve, you on board? >> not exactly. and
todd buchholz former white house economic adviser to the first president bush also with us our own steve liesman. gentlemen, good to see you. >> good to be here, maria. >> explain the theory. >> well, look, if obama care fails because of the website, well, then that's terrible for the president. let's say it succeeds and give it the benefit of the doubt and say the president is right and 30 million people sign up, and they start getting insurance, but they start paying...
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Nov 20, 2013
11/13
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KNTV
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the project was the brain child of the late steve jobs. the city already approved the campus. it is expected to be completed by 2016. >>> san jose is finally getting some action from the u.s. commerce department. the feds announced today they're establishing a patent office in silicon valley. it's getting two years of free office space. it's the top region for patent filings. the office will include some 80 new patent judges and reviewers. >>> over the past two years, we've been privileged to bring you more than 140 stories of people making a positive contribution to our community. >> there are no signs they are slowing down. >> the first story i wanted to update you about is one of the first bay area proud stories we ever told. a virtually indestructible soccer ball. to see one in action these days, you don't have to go anywhere dangerous. just head over to the oakland zoo where they began using one world footballs this summer. why? the balls they normally used department always respond to well when being sat on by a tortoise named gus. the ball's resilience si is remarkable.
the project was the brain child of the late steve jobs. the city already approved the campus. it is expected to be completed by 2016. >>> san jose is finally getting some action from the u.s. commerce department. the feds announced today they're establishing a patent office in silicon valley. it's getting two years of free office space. it's the top region for patent filings. the office will include some 80 new patent judges and reviewers. >>> over the past two years, we've...
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steve benen thank you i want to start off by asking you about some of the meat of the book you talk about the organizational driftin you say it occurred to goldman sachs what are some concrete examples of this organizational drift and its consequences for the company. well give you an example in terms of a story in the late one nine hundred eighty s. goldman was taking a british company public and they had an opportunity to get out of taking the company public and saving themselves hundreds of millions of dollars they had a legal contractual right and when they were presented with the opportunity to do so john weinberg who was co-writing the firm at the time said i don't care what the contract says we are not we're going to fulfil our duty we told we're going to do it we're going to stand behind it even if the contract legally allows us to get out of it today when you look at goldman executives when they're speaking about their duty they speak about it more and from a legal perspective so when goldman executives were testifying in front of congress they'll say that they fulfilled all thei
steve benen thank you i want to start off by asking you about some of the meat of the book you talk about the organizational driftin you say it occurred to goldman sachs what are some concrete examples of this organizational drift and its consequences for the company. well give you an example in terms of a story in the late one nine hundred eighty s. goldman was taking a british company public and they had an opportunity to get out of taking the company public and saving themselves hundreds of...
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Nov 12, 2013
11/13
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to steve's point, momentum is broken. to tim's point, he makes great points. he made the same points last week. i thought if he held 140 and bounced that would be a good ind dags that maybe we would get another bounce. so me it's dicey. you have to pick a level. if the levels don't hold you get out and if you miss a move you miss a move. the trade in terms of mo men tem is completely over. >> there have been other times where the stock has lost over 20%. investors just say i'll take a look. i will miss this trade. i will buy it over 200 on momentum. >> the valuation is really the big problem here. when you look to invest in growth companies where the current fundamentals don't necessarily justify the stock price, what you're hope something you get to buy the entire prize where some future performance may give you two, three, four times your money. in this particular case the size of the business makes that somewhat less likely. you're forecasting that the valuation is going beat bmw or larger and i think that really is asking quite a lot given how small the bu
to steve's point, momentum is broken. to tim's point, he makes great points. he made the same points last week. i thought if he held 140 and bounced that would be a good ind dags that maybe we would get another bounce. so me it's dicey. you have to pick a level. if the levels don't hold you get out and if you miss a move you miss a move. the trade in terms of mo men tem is completely over. >> there have been other times where the stock has lost over 20%. investors just say i'll take a...
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Nov 4, 2013
11/13
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CNBC
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sacked, steve cohen's s.a.c. capital in a record settlement with the feds, now kate kelly has the latest on what happens to the firm. and of course its founder. tweet this, twitter ups its ipo range. traders weigh in on whether they'd buy the stock when it opens for business. >>> the markets heading into the final stretch of the year looking for more gains. surprisingly, still looking for love. so, why is one of the strongest rallies in recent memory still searching for respect? and what does all it mean to where we go from here? "halftime". pete, where's the love in the rally? >> i think it doesn't really take a lot to find some of the
sacked, steve cohen's s.a.c. capital in a record settlement with the feds, now kate kelly has the latest on what happens to the firm. and of course its founder. tweet this, twitter ups its ipo range. traders weigh in on whether they'd buy the stock when it opens for business. >>> the markets heading into the final stretch of the year looking for more gains. surprisingly, still looking for love. so, why is one of the strongest rallies in recent memory still searching for respect? and...
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Nov 19, 2013
11/13
by
FBC
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melissa: steve, explain to people really clearly what we're talking about here. people in the larger pool, who have piled in. >> right. melissa: those are now folks who are, you know, use a lot of health care. they're geting a cheap plan but actually consuming a ton of it. in order to offset those people, they couldn't get insurance before because they had preexisting conditions. just to set off those premiums and those costs we were putting all the other people in who were healthy and buying somewhat expensive policies though they weren't using anything. those people don't have to go in. health care companies geing paid very little to then cover these very expense seven people. that's a very high cost. they are going to say, 8% above what we thought, a heck of a lot more than 8%, right? >> exactly. the original idea was to redistribute the potential losses or gains, also on the upside, most of us thought it would be losses. >> yeah. >> redistribute them among the insurance companies. it wasn't necessarily, if you believe people giveing a charitable view of this,
melissa: steve, explain to people really clearly what we're talking about here. people in the larger pool, who have piled in. >> right. melissa: those are now folks who are, you know, use a lot of health care. they're geting a cheap plan but actually consuming a ton of it. in order to offset those people, they couldn't get insurance before because they had preexisting conditions. just to set off those premiums and those costs we were putting all the other people in who were healthy and...
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Nov 8, 2013
11/13
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KQED
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hi, i'm rick steves, and it's christmas time in europe. from manger scenes to mistletoe from norway to rome, we're celebrating all over the continent. buon natale!
hi, i'm rick steves, and it's christmas time in europe. from manger scenes to mistletoe from norway to rome, we're celebrating all over the continent. buon natale!
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Nov 8, 2013
11/13
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KQEH
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good to have you with us. >> thank you. >> you heard steve's report there. how strong was this economic report really? he suggests once you scratch the service a little bit, there's a little less than meets the eye. >> that's right, on the sure face the headline growth was impressive at 2.8%, this was the second consecutive quarter with above 2% close but it paints a different picture of the economy when you look at the key. the consumer is already pulling back in the second quarter falling down to .8% from 2.1 but fell to 1.5%. we look at businesses, too, they are very much sidelined hesitant to invest in equipment, structures and employees, this is a report where certainly the devil was in the details. >> lindsey, did the market get it wrong then? the market sold off on the idea the report was strong enough to perhaps change the fed's bond buying program. it sounds like you would disagree with that. >> i think the market was a little jittered by the position of headline strength and component weakness. so there's a fear that the fed will look at that headl
good to have you with us. >> thank you. >> you heard steve's report there. how strong was this economic report really? he suggests once you scratch the service a little bit, there's a little less than meets the eye. >> that's right, on the sure face the headline growth was impressive at 2.8%, this was the second consecutive quarter with above 2% close but it paints a different picture of the economy when you look at the key. the consumer is already pulling back in the second...
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Nov 8, 2013
11/13
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flows this year, right now, year-to-date, steve, are about 114 billion positive in equities. there was 600 billion negative over the last five years. again, that feels like the beginning, not the end, of a movement. >> keith, when do you sound the fire alarm? i'm in agreement with you about the lack of exuberance, but when do you sound the fire alarm? what would you have to see diagnostically on the market dashboard, if you will, that would cause you to get cautious? >> anthony, we're asset-class agnostic. we have to be as fiduciaries. we don't have to be bullish in equities. we are, because we see the fundamental underpinning. we see an acceleration in economic growth next year in the u.s. and globally. we think that'll sustain. that drives earnings, as i said earlier, to 1.14 next year, 1.20 the year after. >> anything you're worried about? >> the geopolitical side. you have to worry about when tapering does begin, and it will, how the market will react. we think they'll ultimately be able to absorb it. you'll get bumps along the road. it won't be a straight shot upwards. a
flows this year, right now, year-to-date, steve, are about 114 billion positive in equities. there was 600 billion negative over the last five years. again, that feels like the beginning, not the end, of a movement. >> keith, when do you sound the fire alarm? i'm in agreement with you about the lack of exuberance, but when do you sound the fire alarm? what would you have to see diagnostically on the market dashboard, if you will, that would cause you to get cautious? >> anthony,...
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Nov 18, 2013
11/13
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steve and pete? >> bank of america but wait for a close above $15 before you get in. >> joshua brown. >> i think bank of america is too cheap and i think it's going higher. >> both of you on the same page? >> i still like live nation. good story long term. >> starting to shape up. >> i can't tell you. >>> see you back here again. in the meantime, mad money starts right now. starts right . >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. >>> hey, i'm cramer. welcome to "mad money." a lot of people want to make friends, try to make you some money. and i'm looking for cutting edge ways to do it. out here at the 2013 dream force conference in san francisco. my job's not just entertaining but to educate and teach. so call me at
steve and pete? >> bank of america but wait for a close above $15 before you get in. >> joshua brown. >> i think bank of america is too cheap and i think it's going higher. >> both of you on the same page? >> i still like live nation. good story long term. >> starting to shape up. >> i can't tell you. >>> see you back here again. in the meantime, mad money starts right now. starts right . >>> my mission is simple, to make you money....
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Nov 13, 2013
11/13
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steve cohen, say what you want about him, insider-trading. he cuts his losses and if he wanted to be considered a great trader he should throw his hat in now but he would go back and say it was of long-term debt, the bond insurer at some point i don't know if he turned out to be right about his prediction would implode. >> is trying to reestablish credibility by getting involved with robin hood foundation. acute charity. >> announced a year ago, the same sort of thing, charity. hang you get to hear investment. interesting to see how this goes but it is fascinating we are moving the stock. tracy: let's check the markets. mark neumann of gray wolf execution partner is joins us from the stock exchange. stocks falling a little bit today. how do you characterize this? >> all the way from negative territory the dow up 100 points. basically the market is in consolidation since october. we have not seen strength, it is opposite day. we have seen the dollar falling, rallying small caps and energy commodities the different than we have seen the last co
steve cohen, say what you want about him, insider-trading. he cuts his losses and if he wanted to be considered a great trader he should throw his hat in now but he would go back and say it was of long-term debt, the bond insurer at some point i don't know if he turned out to be right about his prediction would implode. >> is trying to reestablish credibility by getting involved with robin hood foundation. acute charity. >> announced a year ago, the same sort of thing, charity. hang...
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Nov 19, 2013
11/13
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no rain yet but that will change, according to steve, right, steve? >>> well, it's up in the north bay mainly. south bay, i think you are good to go for cloudy conditions. a little bit of rain showing up on radar. we'll take a look at it and see where it's going. >>> an al qaeda-linked group is claiming responsibility for a massive explosion at the iranian embassy in lebanon today that killed at least 23 people. two suicide bombers set off explosives near the embassy in beirut just minutes apart. an iranian diplomat was mock those killed -- among those killed. another 150 people were killed. the al qaeda group says it will continue such attacks until the hezbollah group withdraws forces from syria. hezbollah is fighting alongside forces loyal to syria's president. >>> the nsa says it broke its own surveillance rules despite repeatedly promising a u.s. intelligence court there would be -- there would be additional safety records. in 2009, the nsa admitted it collected material improperly. after repeatedly promising it would obey the court's rules. the
no rain yet but that will change, according to steve, right, steve? >>> well, it's up in the north bay mainly. south bay, i think you are good to go for cloudy conditions. a little bit of rain showing up on radar. we'll take a look at it and see where it's going. >>> an al qaeda-linked group is claiming responsibility for a massive explosion at the iranian embassy in lebanon today that killed at least 23 people. two suicide bombers set off explosives near the embassy in beirut...
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Nov 12, 2013
11/13
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we had preet bharara up here and we talked about sac capital and steve cohen. there is a cloud somewhat, i don't know if you thinks there's a cloud, over the entire industry or just that particular firm but i wanted to get your thoughts on what's taking place at sac and what it means to the rest of your business? >> so clearly steve cohen is facing one of his darkest moments and there's no doubt about insider trading of the employees at sac is something that i know strikes very much at the heart of that firm. it's been a really difficult period of time for them. and i think it's unfortunate that the culture there allowed not one rotten apple but a couple rotten apples and i do believe that this has put a bit of a dark cloud over the entire industry. it's not just about sac. it's about the fact that the government has brought about 50 insider trading cases successfully over the last couple of years and it's a very sad statement about how some of the best and brightest in america have chosen to bend the rules for their own benefit. it's not limited, though, just
we had preet bharara up here and we talked about sac capital and steve cohen. there is a cloud somewhat, i don't know if you thinks there's a cloud, over the entire industry or just that particular firm but i wanted to get your thoughts on what's taking place at sac and what it means to the rest of your business? >> so clearly steve cohen is facing one of his darkest moments and there's no doubt about insider trading of the employees at sac is something that i know strikes very much at...
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liz: billionaire steve cohen's sac capital expected to plead guilty in federal court friday to securities fraud following the firm's more than a billion dollars settlement with the feds yesterday. that was big news. cohen himself has not been accused of wrongdoing. adam: aaol's stock is surging after the company's earnings report. third-quarter revenues beat wall street forecast though earnings fell 90% on one-time charges. liz: number four u.s. mobile provider, scrappy, trying to become number un, t-mobile u.s., third quarter subscriber growth easily beating expectations. we had the chief financial officer on sounding a very strong results. they are turning up heat on verizon wireless and at&t. adam: not exactly 200 megabytes of free data. shares of michael kors company got a boost after the company announce ad stronger forecast, 40% jump in profit. liz: new call of duty ghosts went on sale for the first time today. the latest version of the billion dollar videogame franchise. one of most popular, not that exciting at least what the markets are looking for in sales. "after the bell" star
liz: billionaire steve cohen's sac capital expected to plead guilty in federal court friday to securities fraud following the firm's more than a billion dollars settlement with the feds yesterday. that was big news. cohen himself has not been accused of wrongdoing. adam: aaol's stock is surging after the company's earnings report. third-quarter revenues beat wall street forecast though earnings fell 90% on one-time charges. liz: number four u.s. mobile provider, scrappy, trying to become number...
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Nov 20, 2013
11/13
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to steve's point, i don't know what the entry is to get in the business. wouldn't it be easy for hewlett packard or ibm if they need the space to tuck these guys in? not saying that's going to happen. that's the fear right? if it does happen and you're short on stock, it's going to hurt. trade against the 65 level. >> it's a battle of home improvement retailers. we're talking home depot versus lowes and how you can cash in. >>> and we have one man's battle. stay tuned. o?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one
to steve's point, i don't know what the entry is to get in the business. wouldn't it be easy for hewlett packard or ibm if they need the space to tuck these guys in? not saying that's going to happen. that's the fear right? if it does happen and you're short on stock, it's going to hurt. trade against the 65 level. >> it's a battle of home improvement retailers. we're talking home depot versus lowes and how you can cash in. >>> and we have one man's battle. stay tuned. o?"...
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Nov 18, 2013
11/13
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steve liesman with the story. >> thanks. this poll conducted by public opinion strategists, which does the polling for cnbc the republican half of our polling team, did this poll on behalf of the international franchise association and the u.s. chamber of commerce. find a very negative impact right now on businesses and employment from the affordable care act. let's take a look at the graphics. 64% of franchise and 53% of nonfranchise are saying the aca is having an impact on their business. you might expect that but now let's take a look at what they're saying about specifically how. they say because of aca, 30% of franchise owners have replaced full with part time about 15% have seen reduced staff and more than 30% have reduced worker hours. this has potentially huge neck negative impact on employment. one other piece of data. asked if they would stay below 50 workers. 59 % of franchise owners and 52% of nonfranchise owners. there's a lot of debate about this. unclear whether or not it shows up in the official government d
steve liesman with the story. >> thanks. this poll conducted by public opinion strategists, which does the polling for cnbc the republican half of our polling team, did this poll on behalf of the international franchise association and the u.s. chamber of commerce. find a very negative impact right now on businesses and employment from the affordable care act. let's take a look at the graphics. 64% of franchise and 53% of nonfranchise are saying the aca is having an impact on their...
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Nov 5, 2013
11/13
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steve cohen has the net worth of around $9 billion. but even after paying a 1.8 billion to the government which is what he agreed to today, he will still have $7 billion left. so yes, he can still go out and buy a hundred million dollar paintings. he will still live in a $35,000 square foot mansion. will still do basically whatever he likes. and the fact is that the government was not able to find the evidence to sort of bring them over the line to charge him criminally himself. >> we heard that line from barajas, u.s. attorney no institution should rest easy in the belief that it is too big to jail. is there a-- was that read as a larger signal to the wall street world today? >> well, the government is clearly trying to set an example here and create an atmosphere that will deter illegal trading activit activity-- activity on wall street. back in 2060 when the string of insider trading cases started to get going the government prosecutors thought that this was rampant on wall street. and in fact it's true. back then wall street trader
steve cohen has the net worth of around $9 billion. but even after paying a 1.8 billion to the government which is what he agreed to today, he will still have $7 billion left. so yes, he can still go out and buy a hundred million dollar paintings. he will still live in a $35,000 square foot mansion. will still do basically whatever he likes. and the fact is that the government was not able to find the evidence to sort of bring them over the line to charge him criminally himself. >> we...
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Nov 20, 2013
11/13
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more changes are ahead at microsoft.yesterday, ceo steve ballmer gave his final remarks to shareholders before he leaves the positions. his comments moved chairman bill gates to tears. united continental has its sights set on saving. united is cutting back in an effort to save 2 billion dollars. the airline will re-route flights from asia to europe, to burn less fuel, and overhaul its website. there are no plans to reduce the workforce. united stock popped nearly 4%. on the news. a meeting on capitol hill proved beneficial to bitcoin investors. the virtual currency hit a new record high of 700 dollars in trading this week. after officials in a hearing on capitol hill backed bitcoin, testifying no new regulators will be needed to oversee it. some skeptics are wary the internet commerce is too complex. however lawmakers focused on "pros" of the system in yesterday's hearing. "some proponents -- now proponents believe that digital currencies can prove valuable to those in developing countries without access to stable financial systems. others believe it could prove to be the next generatio
more changes are ahead at microsoft.yesterday, ceo steve ballmer gave his final remarks to shareholders before he leaves the positions. his comments moved chairman bill gates to tears. united continental has its sights set on saving. united is cutting back in an effort to save 2 billion dollars. the airline will re-route flights from asia to europe, to burn less fuel, and overhaul its website. there are no plans to reduce the workforce. united stock popped nearly 4%. on the news. a meeting on...
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Nov 5, 2013
11/13
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. >> steve weiss. >> stay short the bond market tbf long. >> joe. >> starbucks wants to go back up again. >> have a great day. "power" starts now. >> "halftime" is over and "power lunch" and the second half of the trading day starts right now. >> golly, that whistle was loud in my ear. going to turn it down a little bit. move over pimco total return, there is a new king in the world of mutual funds and this one may say a lot about how bullish america is on the stock market. we'll talk about that. hash "time" magazine probletag twitter ipo more reasons for anyone thinking of getting in to think twice. and beating the bully at work, maybe you've heard this story it stems from a series of incidents involving the miami dolphins. the lineman is not on the field and now may be out of a job because of bullying allegations. how do you manage a situation when it gets out of hand at work? first, though, let's go to sue at the new york stock exchange. big turnaround today, sue. >> absolutely. a huge turnaround. the day didn't start off well for the bulls. we were down triple digits. we have as you
. >> steve weiss. >> stay short the bond market tbf long. >> joe. >> starbucks wants to go back up again. >> have a great day. "power" starts now. >> "halftime" is over and "power lunch" and the second half of the trading day starts right now. >> golly, that whistle was loud in my ear. going to turn it down a little bit. move over pimco total return, there is a new king in the world of mutual funds and this one may say a...
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Nov 19, 2013
11/13
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email of support for lucas' plan includes more than 30 cosigners including yahoo's ceo marissa mayer, steve jobs' widow and veteran rap performers mc hammer. >>> a view from above shows entire neighborhoods splintered apart. the recovery now under way after more than 80 tornadoes hit the region on sunday. at least eight people were killed, hundreds of homes flattened. one woman was rescued from under a large chunk of concrete in her collapsed home. her daughter-in-law found her. >> she was my angel. i don't know how long i would have been there. [ crying ] >> because i couldn't have moved that concrete block myself. >> officials say a number of factors kept the casualties down including early warnings, accurate forecasts and the fact that storms happened during the day when people were awake. >>> well, some palo alto police officers will soon be equipped with videocameras mounted on their bodies. city council unanimously approved $350,000 last night for the cameras. the money will mostly pay to replace 18 cameras and police cruisers but also calls for cameras that nine motorcycle officers w
email of support for lucas' plan includes more than 30 cosigners including yahoo's ceo marissa mayer, steve jobs' widow and veteran rap performers mc hammer. >>> a view from above shows entire neighborhoods splintered apart. the recovery now under way after more than 80 tornadoes hit the region on sunday. at least eight people were killed, hundreds of homes flattened. one woman was rescued from under a large chunk of concrete in her collapsed home. her daughter-in-law found her....
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Nov 20, 2013
11/13
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microsoft chairman bill gates says he's pleased with the progress being made to replace outgoing ceo steve ballmer. gates and balmer have been microsoft's only chief executives since the company was founded in 1975. balmer said he was stepping down. at the final meeting bill gates became emotional as he talked about the next microsoft leader. >> and we share commitment that microsoft will succeed as a company that makes the world a better place, so thank you for your support. >> microsoft's chief hopes to have a new chief at year's end. >>> diane miller was one of disney's inspirations for building disneyland. she was also instrumental in building the disney family museum and the concert hall in los angeles. she died yesterday at her california home following complications from a fall. diane disney miller was 79 years old, and, anne-marie, quite a legacy her family leaves behind. >> indeed. alexis christoforous at the new york stock exchange. thank you, alexis. >>> straight ahead, your wednesday morning weather. >>> plus, in sports, golf becomes a contact sport for a hall of famer. >>> and
microsoft chairman bill gates says he's pleased with the progress being made to replace outgoing ceo steve ballmer. gates and balmer have been microsoft's only chief executives since the company was founded in 1975. balmer said he was stepping down. at the final meeting bill gates became emotional as he talked about the next microsoft leader. >> and we share commitment that microsoft will succeed as a company that makes the world a better place, so thank you for your support. >>...
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more will come with steve cohen. he will either start another company with different name or they will indict him. this is not the end of his travails. ashley: judge, thank you very much. >> pleasure guys. tracy: a little bit of sad news this hour from chicago. charlie trotter, famed restaurateur as died at age of 54. self-taught chef, trotter closed his iconic restaurant in chicago last year to give him time to go back to school and travel the world. trotter, believe it or not earned 10 james beard awards and was considered a mentor to many chefs and chicago and united states. i actually had pleasure of meeting him. ashley: fairly recently. tracy: very recently. terrible news. ashley: very young too. tracy: all right. talk about doing your civic duty? i voted, did you? we have complete coverage of the governor races in new jersey and virginia as well as race for mayor? new york city and detroit. ashley: we're covering what is on the ballot. colorado voters decide on taxing marijuana. is it just smoke or high revenue
more will come with steve cohen. he will either start another company with different name or they will indict him. this is not the end of his travails. ashley: judge, thank you very much. >> pleasure guys. tracy: a little bit of sad news this hour from chicago. charlie trotter, famed restaurateur as died at age of 54. self-taught chef, trotter closed his iconic restaurant in chicago last year to give him time to go back to school and travel the world. trotter, believe it or not earned 10...
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Nov 14, 2013
11/13
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. >> it is about steve cohen and it is steve cohen. this is fascinating. steve cohen has not been charged with insider trading but the day after sac pled guilty, paid $1.2 billion, steve cohen remains under investigation, the next day chris christie won overwhelmingly new jersey governor and guess what he did? he personally called steve cohen to come to his big gala association and attend a private dinner. now there is nothing illegal about that. but this is now raising eyebrows from people, republicans who saw him at the event, from people starting to make its way around the political analyst circles where they're saying this is incredible fodder for anybody that runs against christie in the future, particularly if he goes up, if he runs for president in 2016, this could be a campaign commercial. this is what we know, christie personally invited him. heard through the grapevine steve cohen following the monday plea deal was depressed, wasn't feeling very well. told him to get, quote, his rear end off the couch from what i understand. that is direct quote
. >> it is about steve cohen and it is steve cohen. this is fascinating. steve cohen has not been charged with insider trading but the day after sac pled guilty, paid $1.2 billion, steve cohen remains under investigation, the next day chris christie won overwhelmingly new jersey governor and guess what he did? he personally called steve cohen to come to his big gala association and attend a private dinner. now there is nothing illegal about that. but this is now raising eyebrows from...
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Nov 19, 2013
11/13
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steve? >> up, up and away. i still am in the american trade. i actually bought more when the announcement hit the tape. still like llc, and there's still so many nonbelievers out there that this is a changed industry. i love it. i think you have to be long. united came back from the depths. they're doing very well. >> josh, campbell's soup today, getting hit pretty good. >> a bear market in soup. and i blame global warming. i think what campbell's said today was a couple of really alarming things, and the stock's certainly paying for it. first of all, missed earnings by 20 cents, or 30% on the quarter. soup sales were down 6%. they're running into two problems. millennials aren't going to eat out of cans. and number two, the supermarkets are doing a lot of prepared fresh food, and that seems to be where the bigger trend is going. so they'll have to figure this out. >> all right. let's talk some jpmorgan. the firm, and the justice department, getting closer to finalizing a $13 billion settlem
steve? >> up, up and away. i still am in the american trade. i actually bought more when the announcement hit the tape. still like llc, and there's still so many nonbelievers out there that this is a changed industry. i love it. i think you have to be long. united came back from the depths. they're doing very well. >> josh, campbell's soup today, getting hit pretty good. >> a bear market in soup. and i blame global warming. i think what campbell's said today was a couple of...
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Nov 13, 2013
11/13
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here, julie roginsky, steve moore and ari zolden. what do you guys think? all about the badges that you have wear arounn and go through security and they can tell when you're coming and leaving, at your desk, what do you think. julie what do you think. >> i george brownies in the green room. melissa: there is camera in there, they know about that. >> congratulations fox, i'm only one that eats it. i hate it. melissa: you hate this? >> i hate it. if you have to micromanage people why would, my whole thing is empower your employees. let them dot thing and if they stink get rid of them. why micromanage them. if you want to step up themselves get rid of them. >> i thought it funny on sec is supplying on employees. that is okay with me as long as they're not spying on me. melissa: first thing i thought are the sec is feeling about everyone. if they're spying on employees they're spying on everyone. without question, right? >> when you take the job you're under the rules of employer this seems to be going a bit too far, monitoring everyone of your phone calls. wh
here, julie roginsky, steve moore and ari zolden. what do you guys think? all about the badges that you have wear arounn and go through security and they can tell when you're coming and leaving, at your desk, what do you think. julie what do you think. >> i george brownies in the green room. melissa: there is camera in there, they know about that. >> congratulations fox, i'm only one that eats it. i hate it. melissa: you hate this? >> i hate it. if you have to micromanage...